Transcript of "Law 483 managerial ethics"

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Managerial Ethics 1

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LEARNING OUTCOMEDefine social responsibility and ethicsList at least six main arguments for at least four main arguments againts businesses being socially responsible.Explain the importance of demonstrating social responsibility in today business world 2

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Learning Objectives ( continued)•Describes the concern people have about business ethics•Explain the relationship between social responsibility and managerial ethics•Identify the seven factors that influence ethical behaviour•Describe ways an organization can improve ethical behaviour 3

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Society’s Expectation from Organizations and ManagerManagers regularly make decisions about issues with a social dimensionIn competitive environment, organizations cannot afford to be seen as socially irresponsible 4

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Arguments Againts Businesses Being Socially ResponsibleViolation of profit maximizationDilution of purposeCostsToo much powerLack of skillsLack of accountabilityLack of broad public support 6

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Relationship Between Social Responsibility and Economic PerformanceResearch studies show positive relationshipGeneral public perception that companies who behave in a socially responsible way have better business performance 8

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Determinants Of Issue Intensity (Exhibit 2.3) How much agreement is there How many people will that this action is wrong? be harmed?ed? How likely is it that this action will cause harm? Consensus of Greatness Wrong Probability of of Harm Harm Issue Intensity Concentration Immediacy of of Effect Proximity Consequences to Victims How concentrated is the effect of the action on the victims? Will harm be felt How close are the potential immediately? victims?Source : Management, Seventh Canadian Edition, by Stephen P. Robbins, Mary Coulter, and RobbinStuart-Kotze, page 113. Copyright 2003. Reprinted by permission of Pearson Education Canada Inc.Robbins et al., Fundamentals of Management, 4th Canadian Edition 2005 PearsonEducation Canada, Inc.

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Management Responsibility Relating to Codes of Ethics• If possible, develop codes with activeinvolvement of everyone in the organization• All levels of management must support andcontinually reaffirm the importance• Consistently discipline those who break the code• Set an example by behaviour and actionRobbins et al., Fundamentals of Management, 4th Canadian Edition 2005 PearsonEducation Canada, Inc. 21

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Concluding Remarks• More and more organizations are appearing innewspaper headlines about ethical conduct• Survey of employees shows workplacepressures are leading to more peopleconsidering acting unethically• Concerns about social responsibility aregrowingRobbins et al., Fundamentals of Management, 4th Canadian Edition 2005 PearsonEducation Canada, Inc. 22